ACE Progress Report: Pollution: The Unrecognized Risk of Business Operations

PHILADELPHIA--(BUSINESS WIRE)-- ACE Westchester, the U.S.-based wholesale-focused insurance division of the ACE Group, today announced the availability of its latest report “Pollution: The Unrecognized Risk of Business Operations.” The new ACE Progress Report^SM discusses the often unidentified pollution risks faced by businesses, and the range of activities of businesses today that are subject to continually evolving environmental laws and regulations at the federal, state and local level. Heightened public awareness combined with intensified regulatory scrutiny has increased the potential environmental exposures for businesses across the board.

The report, co-authored by the ACE Westchester Environmental team: Barbara Deas, Division President, Rob Owens, Vice President and Todd LaBandt, Executive Underwriter, discusses the wide range of tailored environmental coverages that, when combined with a proactive risk management strategy, can help protect businesses from potentially significant environmental claims.

“Evolving environmental regulations can affect almost any kind of commercial venture, thereby placing new compliance demands on those ventures and creating new liabilities,” said Ms. Deas. “To protect themselves, companies in every line of business need to take a proactive approach to environmental risk management that minimizes the pollution risks in the first place.”

Mr. Owens added, “Even an environmentally conscious business, however, may not recognize the full extent of environmental risks that its daily operations entail. Pollution liabilities can impact almost any kind of commercial venture, from residential developments to shopping centers, commercial office parks, warehouses, manufacturers, and even organizations such as universities.”

“This white paper,” said Mr. LaBandt, “focuses on the need for businesses to take a proactive approach to environmental risk management, including pollution insurance, to adequately address the exposures inherent within their daily operations. By doing so, businesses can better protect themselves and be in a position to thrive in a green society.”

The authors’ commentary is part of ACE Progress Reports^SM, a collection of white papers, articles, and executive reports on current and emerging risk management issues. To access the report, please visit our website. The material presented in the report is not intended to provide legal or other expert advice. It is presented as information only. Readers should consult legal counsel or other experts, as applicable, with any questions they may have.

ACE Westchester’s Environmental Division provides environmental liability insurance products and services, including: General Liability; Products Pollution Liability; Contractors Pollution Liability and Premises Pollution Liability coverage. Separate policies may be provided in conjunction with the products above to cover Business Auto and/or Follow Form Excess Liability exposures. In addition, Hazmat Transporters are eligible for Fleet, General Liability, and Premises Pollution coverage. To learn more about ACE Westchester Environmental’s insurance products and services, please visit our website.

ACE Westchester is the U.S.-based wholesale-focused operation of the ACE Group. Headed by ACE Limited (NYSE:ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acegroup.com.

ACE North America CommunicationsCarla Ferrara, 215-640-4744
[email protected]

Source: ACE Westchester